Why cryptocurrency gambling is the best
It’s remarkable how cryptocurrency gambling is fast gaining on traditional currencies in online casinos. With fiat currencies, transferring funds using traditional banking can take up to a week, especially with international transactions. But with crypto, you can transfer funds into and out of your casino account instantaneously.
The ability for players to play their favourite online games right away is just one of the many benefits of cryptocurrency gambling. Here are more reasons why cryptocurrency gambling reigns supreme.
Benefits of cryptocurrency gambling
Cryptocurrency is designed to be free of any influence from central authorities, allowing users to make independent transactions securely and anonymously. This makes crypto payments highly ideal for online gamblers because it gives them complete control over their transactions.
Cutting edge crypto technology
With a high level of encryption and transparency, cryptocurrencies are fast becoming a widely accepted means of payment transactions online.
The peer-to-peer nature of cryptocurrency allows its users to send to anyone and receive from anywhere in the world at any time. This kind of autonomy is not possible with traditional fiat that is regulated by the government and banks. Additionally, crypto removes the need for middlemen and cuts down on fees users have to pay for every transaction. This means you can deposit more for your cryptocurrency gambling instead of paying more for fees.
Crypto payments have minimal waiting time and low transaction fees, if at all, which appeals to gamblers who make frequent online fund transfers. This kind of payment is especially useful in international transactions where payments are transferred in a matter of minutes instead of hours or days.
With many online payment systems available, crypto users don’t have to make the trip to a physical bank or store. They can send and buy their coins anywhere they have internet access. This means you can add more to your balance in no time so you don’t have to wait long to resume your cryptocurrency gambling.
Blockchain tech in cryptocurrency ensures the security of all transactions made with crypto. With its consensus protocol managed by nodes and miners, issues such as hacking or double-spending are impossible. Once the transaction is verified, it is already irreversible and can no longer be altered. All the details of the exchange are also public for everyone to review but cryptography prevents sensitive data from being compromised or stolen.
Anonymous cryptocurrency gambling
Another benefit of cryptocurrency gambling for players is that all transactions are anonymous and cannot be tracked by any financial institution like banks. This allows online gamblers to make large deposits which would normally call the attention of third party verification. Moreover, for some banks and countries, gambling activity is frowned upon and can affect one’s financial credibility when it comes to getting loans.
No geographical restrictions
Cryptocurrency is based on a decentralised network which means transactions can be made anywhere in the world without having to go through red tapes. Anyone from anywhere can send or receive crypto payments that are not subject to restrictions from the country of origin to its destination. This lets you gamble with crypto no matter where you are in the world.
How to buy crypto
Now that you know what makes cryptocurrency gambling the best, it’s time to get familiar with how to buy crypto. Cryptocurrency can be purchased through an account with a crypto exchange such as Coinbase or MoonPay. But before you can buy, you need a crypto wallet used to hold crypto assets first. There are different kinds of cryptocurrency wallets, which include paper crypto wallets, online crypto wallets, desktop crypto wallets and hardware crypto wallets.
For convenience, there are exchange sites that offer both crypto buying and storage so you won’t need to have a separate wallet for your coins. However, it’s recommended that you store your crypto separately from an online exchange site to keep your funds safe from cyber attacks.
Here’s a guide on how to buy crypto:
Choose a digital coin for your cryptocurrency gambling
There are around 10,000 cryptocurrencies currently trading in crypto exchanges. With that many cryptos to choose from, it’s a good idea to start your first purchase with major and more popular cryptos including the following:
- Bitcoin (BTC) is the first cryptocurrency created in 2009. It pioneered the use of a blockchain network to run and manage crypto transactions. Currently, Bitcoin has the biggest market capitalisation and is the most valuable digital coin.
- Ethereum (ETH) is both a cryptocurrency and blockchain platform that currently ranks as the 2nd most valuable coin in the market. It uses smart contracts that self-execute transactions and conditions in the network.
- Tether (USDT) is the first and the biggest stablecoin, a type of digital asset backed by fiat currencies like US dollars and euro. It mitigates the volatility of crypto by ‘tethering’ the value of the coin to fiat or other assets.
Where to buy crypto
Cryptocurrency exchanges offer the best place to buy and exchange coins. They are secure, quick to set up and accept a variety of funding sources.
Here are some websites that will make your cryptocurrency gambling easier:
- Coinbase is a popular exchange that supports a number of popular cryptocurrencies, strong security protocols and affordable fees.
- eToro is also a common choice for beginners because of its simple platform. It has a practice account feature that lets you test out buying crypto without risking real funds.
Enjoy the best cryptocurrency gambling benefits at Bitcasino
Cryptocurrency gambling is by far the most convenient way to enjoy live dealer games and the latest video slots online. With digital currencies, transactions are instant and safe while fees are lower than traditional deposit options. Considering all that, it’s clear why cryptocurrency gambling is now becoming more popular in the casino industry. Experience all its perks when you sign up at Bitcasino to play your favourite games.
Words by: Lez Diego